Low Cost Final Expense for Smokers
Qualify in just minutes for the Best Final Expense for Smokers
Smoking is the big taboo in the life and health insurance industry. If you smoke cigarettes, cigars or a pipe be prepared to pay as much as 50% more! Just one more reason to quit. But if you are like some others, it’s just not that easy. Don’t kid yourself and wait until you quit to buy it. It pays to buy the best Final Expense Insurance for Smokers now before you get older and possibly sicker.
Anyone who has kicked the habit should be commended as nicotine is one of the most addictive substances out there. We just didn’t know it when we started. If you are looking for burial insurance, you probably started smoking way before the big push against tobacco came around. Back in the 50’s, 60’s, and 70’s smoking was still considered “cool” and the “hip” thing to do. If only we knew then what we know now.
Even if you have stopped using tobacco products, and have not done it for over 12 months, you’ll still get smoker rates if you are using nicotine replacement products. So vaping, chewing nicotine gum, wearing a patch or any other type of nicotine delivery system is just as bad when it comes to Final Expense Burial Insurance rates.
If you have come to the realization that you better get some coverage now, before you are diagnosed with lung disease, heart disease or have a stroke, you’ll want to know which company to use. Even better that we’ve done the leg work and weeded out the companies who charge top dollar.
All other things aside, if smoking was the only issue, and you are otherwise healthy, go straight for the lowest rate for an immediate death benefit. Don’t wait to do it, the situation only gets worse. Everyone wants to quit and says they plan on doing it soon. So get what you can afford now as a smoker and then work with the agent if and when you do quit all nicotine use for at least 12 consecutive months. We’ll re-rate you as a non tobacco/nicotine user either with the same company, or another one. That will just depend on the rates offered at the time, and any health conditions you have.
Right now the best final expense plans for smokers are with the following companies. We have classified these by gender and reflect only the best possible rate class available with that company for a smoker. All the companies we are looking at are for simplified issue whole life for amounts from $5,000 to 25,000 except for Sagicor Life. Each company has their own limit on the amount available but all the companies we are recommending do not require a medical exam or medical records. The determination if an applicant will be approved is primarily based on the answers to the questions on the application, a Medical Information Bureau report, a prescription history report and a telephone interview.
This list of companies also takes into account those people who do have some health issues, those who need to pay with a debit or credit card and others who need to do a Social Security deduction. Four of the five companies listed in each age group are whole life policies that will accumulate cash value over time, and are guaranteed to age 100 or 121 at which time they will endow. All things considered these policies are the best final expense insurance plans for smokers on the market.
In addition to looking at the rates, we are initially only recommending policies with immediate, level death benefit for those who qualify. As always, it’s better to get a policy with an immediate death benefit at a slightly higher premium, rather than a policy with a limited benefit in the first two to three years at a lower premium.
When a policy endows, it means that the death benefit is equal to the cash or surrender value. So if you really live to be that old, your policy will be worth the same whether you’re alive or dead. Sounds ridiculous but many people are living beyond the age of 100 and average life expectancy keeps increasing.
Sagicor Life differs from the other companies in one major area. There is little to no cash value to the policy at any time. If you are very healthy and only concerned with the death benefit, not the cash accumulation, then Sagicor is the best deal. The product is actually Universal Life policy that is designed to last until age 121 with guaranteed level premiums that will not change. Premiums for Sagicor will easily be about 30% lower that all the other companies.
Male or Female- Age 0 to 50
- Liberty Bankers (begins at age 18)
Female or Male – Age 50
- United Farm Family (United Home Life)
Female or Male – Age 65
Female or Male – Age 75
- American Continental (Aetna)
If a person has no health issues or very minimal health issues, Sagicor is the first company we recommend at all ages. Their Preferred and Standard rates almost always beat everyone else’s rate. But make no mistake, they are the most difficult to pass.
The next best companies to go for purely according to the best rates from the age 50 and up are KSKJ, and Assurity Life for under the age of 50. If you need to pay with a debit card or social security deduction, Transamerica, Liberty Bankers or Trinity can be used.
We have also included in each of these top five age categories at least one company that will offer either a slightly higher rate for the next level of coverage, or modified/ graded policy if the applicant does not qualify for the Preferred or best immediate level death benefit. All of the companies listed have a second level of coverage if the applicant can’t qualify for the top level.
Most final expense burial insurance plans only look back at the last 12 months for tobacco and nicotine use. If you do quit smoking and using any type of nicotine replacement product, mark the day you quit on your calendar. If it’s been under five years since you first purchased a policy at a tobacco rate, it’s worth checking to see if you can get a lower rate if you have not used in the last year.